Today’s Real Estate News 10-7-2011

07 Oct

Today’s news that may be of interest to you:

Want To Save $215 Billion? Eliminate the Mortgage Deduction
The Wall Street Journal | October 6, 2011
Senate lawmakers said Thursday they want to be cautious about scaling back or eliminating the popular home mortgage-interest deduction to avoid further upsetting the troubled housing market.

Housing Desert Leads Biggest U.S. Homeownership Drop Since 1930s
Bloomberg | October 7, 2011
Maricopa County, which added one of every 40 housing units built between 2000 and 2010 in the U.S., had the biggest drop in homeownership among large counties, falling to 64.5 percent of residents from 67.5 percent, the U.S. Census Bureau said yesterday.

Frustrated Democrats Suggest Top Obama Housing Official Resign
The Hill | October 6, 2011
Infuriated by the Obama administration’s handling of the lingering foreclosure crisis, several leading House Democrats this week suggested that Edward DeMarco should step down as the chief regulator of Fannie Mae and Freddie Mac.

From the National Association of Realtors®:

Housing Can Be ‘Key Engine of Job Growth’
Anti-housing policies are preventing a housing market recovery, as well as a turnaround in employment, the National Association of Home Builders is telling lawmakers.

More Kids Turn to Parents for Mortgage Help
The “bank of mom and dad” is increasingly becoming an option for young adults who otherwise may not have been able to afford or qualify for a mortgage for a new home.

2 Ohio Couples Say Homes Became Supersized Magnets
The Ohio Supreme Court will decide whether home owners will be able to sue their builder for their magnetized home, or if they gave up that right when they signed a sales contract at purchase that contained a limited warranty.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

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